Need examples of topics dealing with 2 Economic Concepts....
Meaning .. Like Gas prices .. deals with supply and demand along with goods and services.
Which two economic concepts?
Please explain your question.
I reposted Another post stating what exactly what i was looking for in details thanks for the help!!
Here are multiple economic concepts.
-Supply
-Demand
-Markets
-Monopoly
-Perfect Competition
-Opportunity Costs
-Marginal utility
-Price elasticity
-Profit Maximization
-Pareto Optimal
-Laissez Faire
-Microeconomics
-Macroeconomics
-IS-LM models
-Consumption
-Supply Side economics
-Say's law
-Scarcity
-Gross National Product
-Productivity
To provide examples of topics dealing with two economic concepts, let's choose supply and demand as the two concepts to focus on.
1. Price Elasticity of Demand: This concept analyzes how changes in price influence the demand for a product or service. You can explore this concept by examining how various industries, such as the airline industry or the smartphone market, adjust their prices in response to changes in demand.
2. Market Equilibrium: This concept refers to the point where the quantity demanded by consumers matches the quantity supplied by producers. You can analyze this concept by studying how price adjustments enable markets to reach equilibrium, like examining the housing market during a period of high demand.
To get more specific examples, you can conduct a quick search by entering phrases like "examples of price elasticity of demand" or "market equilibrium examples" into a search engine. This will yield real-world cases and allow you to delve deeper into understanding the chosen economic concepts.